Local News: Economic News
Libyan Investment expects its profits to rise to (2) billion dollars during the year 2023.
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Tripoli, June 15, 2023 (LANA) - The head of the Libyan Investment Authority, "Ali Mahmoud Hassan," confirmed that the institution's profits during the year 2022 amounted to $1.2 billion, expecting to achieve profits of $2 billion during the year 2023. This came in a speech he gave on the occasion of announcing the approval of the financial institution's data and its conformity with its lists, which the president of the institution considered a pivotal stage in the institution's work. "Mahmoud"... Read more
Al-Manfi meets with representatives of the Libyan State Funds Recovery Office and Management of Recovered Assets.
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Tripoli, June 14, 2023 (LANA) - The President of the Presidential Council, "Muhammad Al-Manfi", met today, Wednesday, with the management of the Office for the Recovery of Libyan State Funds and the Management of Recovered Assets, represented by the Chairman of the Office's Board of Directors, "Anwar Arif" and a member of the Board of Directors, "Youssef Al-Sharif."According to what the media office of the President of the Presidential Council published on its official Facebook page, representatives of the office submitted a... Read more
International Monetary Fund: Libya needs a clear-cut economic strategy and it must reduce the level of spending.
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Washington, June 12, 2023 (LANA) - The International Monetary Fund has affirmed Libya's urgent need for a transparent budget that reduces costs associated with high spending on public sector wages and subsidies.The fund indicated in a report that public sector salaries dominate government spending, as about 2.2 million people - a third of the population - work by default in the public sector, and subsidies and grants amount to about a quarter of spending.He also noted that fuel subsidies... Read more
Czechs provide Benghazi municipality with equipment in the field of food and drug control
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Tripoli, May 20, 2023 (LANA) – The Czech government has provided support to the municipality of Benghazi in the form of equipment and devices in the field of food and drug control, and the training of a number of Libyan cadres how to use these equipment.The media office said that the head of the Executive Council of the Benghazi municipality, Saqr Bojwari, met with the Czech ambassador to Libya, "Jan Vitical"; they discussed the support provided by the Czech government related to the... Read more
Minister of Finance is discussing with his Saudi counterpart ways to enhance financial and economic cooperation.
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Jeddah, May 13, 2023 (LANA) - Minister of Finance of the Government of National Unity, Khaled Al-Mabrouk, held a bilateral meeting with his counterpart in the Kingdom of Saudi Arabia, "Mohammed Abdullah Al-Jada'an," on the sidelines of the annual meetings held by the Islamic Development Bank Group during these days in Jeddah.The meeting discussed actual and practical steps that would strengthen financial and economic relations between Libya and Saudi Arabia, and raise the level of... Read more
